Illinois HB3474 creates an income tax credit for planting cover crops.
HB3474 amends the Illinois Income Tax Act to allow individual taxpayers who plant cover crops in the state to claim a tax credit equal to the cost of planting. Cover crops are defined as plants grown to cover the soil rather than for harvest, such as grasses, legumes, and wheat. The credit applies to taxable years starting from January 1, 2026. If the credit exceeds the tax liability, the excess can be carried forward to offset future tax liabilities for up to five years.
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